A Luxury Bungalow In Singapore Asking For A Cool S$108 Million.
A luxury bungalow in Singapore’s waterfront enclave of Sentosa Cove is asking for S$108 million.
Singapore (I-Newswire) September 4, 2012 - Online asking prices of about S$50 million or more for good class bungalow in Singapore are not unusual. There are more than a dozen listings of good class bungalows with price tags at that level.
High end homes are being tagged with price levels never before seen in Singapore property market. In May 2012, a luxury bungalow in Sentosa Cove, Singapore, was listed at a staggering S$108 million. Its price is almost three times the overall price record of S$39 million for a bungalow sold in the exclusive estate.
With such asking prices significantly higher than market prices, some experts are wondering if these could be more of marketing tactics to generate publicity. So far, there has already been a handful of transactions that crossed the $50 million mark, but none has exceeded the S$100 million mark.
Among the more expensive landed home sold on the mainland of Singapore, was a 41,850 square feet good class bungalow in Leedon Park. The unit was sold at about S$61.4 million in December 2010.
Compared to non landed property, for example a 8,050 square feet Boulevard Vue unit, transacted at about S$33.4 million in November 2009. And The Marq at Paterson Hill was transacted at about S$6,850 per square feet, at S$20.5 million.
Good class bungalow in Singapore are limited in supply. There are only 2,400 good class bungalow in 39 gazetted areas island wide, These units typically occupy a minimum of 15,000 square feet of land. There are very few people who can afford such homes and they are usually very discerning and discreet.
Investors looking at other Singapore property, are welcome to visit http://www.BuyRentSingapore.Com or http://www.BuyRentSingaporeProperty.Com for new launch Singapore properties. BuyRentSingapore.Com is a Singapore property listing website.
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Published On:September 4, 2012
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